{"id":5385,"date":"2015-08-13T01:00:59","date_gmt":"2015-08-12T15:00:59","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5385"},"modified":"2015-08-13T01:00:59","modified_gmt":"2015-08-12T15:00:59","slug":"what-properties-should-you-be-looking-at-right-now","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-properties-should-you-be-looking-at-right-now\/","title":{"rendered":"What properties should you be looking at right now? &#8211; Paul Nugent"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show\u00a0<strong>Paul Nugent<\/strong>, from Wakelin Property Advisory, gives us the good oil and the properties you should avoid and tells us the best ones to invest in and why.<br \/>\n&nbsp;<\/p>\n<h4>Transcript:<\/h4>\n<p><b>Kevin:<\/b>\u00a0 As a property investor, you\u2019ll get a lot of advice about properties you should be looking at and, more particularly, properties that you shouldn\u2019t be looking at. That\u2019s the question I\u2019m going to pose now to Paul Nugent from Wakelin Property Advisory.<br \/>\nPaul, that\u2019s probably a question you\u2019re asked quite often. What properties should I be looking at right now?<br \/>\n<b>Paul:<\/b>\u00a0 Every day of the week, Kevin. It\u2019s a perennial question, and it\u2019s very much the starting point for any investor who wants to make a move into the marketplace.<br \/>\n<b>Kevin:<\/b>\u00a0 Well, the market does change from time to time, so what are you looking at now? What are you suggesting for your clients?<br \/>\n<b>Paul:<\/b>\u00a0 Look, there are perennial qualities to particular types of properties that mean they should always be included in an astute investor\u2019s portfolio. Let me make it clear from the outset, to get property investment right, Kevin, it\u2019s all about selection of the asset. It doesn\u2019t matter how well you finance the deal, or what the return is, or what the projected growth is, if you haven\u2019t selected the right asset to begin with, it\u2019s all for naught.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, okay. What sort of properties are you recommending?<br \/>\n<b>Paul:<\/b>\u00a0 The sort that we\u2019ve been recommending for 20 years that have perennial appeal fall into two main categories.<br \/>\nThe first is single fronted, generally single level, period homes \u2013 which could be anything from Victorian through to about the 1930s \u2013 that are in good condition \u2013 so they\u2019re not \u201cRenovator\u2019s Delights\u201d \u2013 and nothing that\u2019s been overly embellished or renovated with expensive fittings. That might suit a homebuyer, but not for investment purposes. Something with a logical floorplan where the adjoining uses are right. By that, I mean a property that\u2019s located in a consistent streetscape, with little or no commercial use and, for a house, that doesn\u2019t have flats behind it or beside it overlooking it.<br \/>\nThe other type of property that we\u2019ve always recommended \u2013 and it seems to work particularly well, especially for first time investors \u2013 is apartments. Now, you have to be very careful in the apartment market because there\u2019s such enormous choice, whether we\u2019re talking studios through to penthouses and villa units or townhouses \u2013 you name it, there\u2019s an enormous array to chose from.<br \/>\nHowever, any investor is going to be well served by focusing principally on apartments that were built between the 1930s and 1970s, in smallish blocks \u2013 preferably less than 20 apartments \u2013 with dedicated car parking for the apartment that you\u2019re looking at, on a good street, with a good floorplan and, preferably, with only one or two bedrooms. Avoid studio apartments and three-bedroom apartments. Make sure it\u2019s just a good, well-located, one- or two-bedroom apartment with the right outlook \u2013 the right position in the block.<br \/>\n<b>Kevin:<\/b>\u00a0 It occurs to me that what you\u2019re talking about there, Paul, is the stock that you\u2019re looking for is obviously something that\u2019s not going to be made any more, so therefore it holds its value for that reason?<br \/>\n<b>Paul:<\/b>\u00a0 That\u2019s exactly right, Kevin. It\u2019s property that tends to be very finite, and if it\u2019s in the right location, it tends to be in perpetual demand, and very, very limited supply.<br \/>\n<b>Kevin:\u00a0 <\/b>There\u2019s a lot of talk right now about over-supply, particularly of high-rise units in Melbourne and Sydney \u2013 though probably not so much Sydney at this point. Is that something that you are avoiding?<br \/>\n<b>Paul:<\/b>\u00a0 It\u2019s something that we\u2019ve always avoided, Kevin, and there\u2019s a very good reason for that. If you look beyond the fact that it\u2019s an infinite sector of the market where properties can be replicated and reproduced, and more and more are built, and it\u2019s very hard to differentiate between individual apartments, the basic problem with those sorts of high-rise units is that unfortunately there seems to be a very low notional component of land value attributable to each apartment.<br \/>\nIf you look at the types of properties I\u2019ve outlined that we would recommend, you could actually close your eyes and understand that well-established apartments and good period houses tend to be on very high components of land value, and that\u2019s what drives the value of the asset into the future.<br \/>\nWhen you\u2019re looking at multi-unit high-rises, these enormous creations that have crept out of the ground, it\u2019s only a very small portion of the purchase price that you could attribute to the underlying land value, so it doesn\u2019t have the right driver for future capital growth.<br \/>\n<b>Kevin:<\/b>\u00a0 It makes a lot of sense, Paul. I want to thank you for your time. Paul Nugent from Wakelin Property Advisory. Thank you, Paul.<br \/>\n<b>Paul:<\/b>\u00a0 An absolute pleasure. Thanks, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show\u00a0Paul Nugent, from Wakelin Property Advisory, gives us the good oil and the properties you should avoid and tells us the best ones to invest in and why. &nbsp; Transcript: Kevin:\u00a0 As a property investor, you\u2019ll get a lot of advice about&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":5386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-5385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What properties should you be looking at right now? 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